Waterman Hotel

Santa Barbara, CA

Purchased: August 2014

Property Size: 31 Guest Rooms

Project Cost: $10.0M

Manager: 247 Hotels

In 2014, Eastern purchased a partially constructed hotel and converted the property into an independently run boutique hotel. In 2020, Eastern entered into a partnership with Dauntless Capital Partners to convert the asset into a Moxy Hotel, one of Marriot’s leading select service brands. 

Santa Barbara is one of the most prestigious destination markets within California and the United States. The Moxy Santa Barbara sits directly in the Funk Zone district, which is now considered the #1 tourist destination in Santa Barbara. 

This boutique, “drive to” location is ideally positioned for demand congruence between Moxy’s vibrant, lifestyle experience brand and the plentiful travelers and tourists in the immediately surrounding Funk Zone and larger Santa Barbara area.